Coastal Delaware Market Analyses
2015 Market Predictions
We believe the Coastal Delaware real estate market remains very strong as we head into the spring selling season. Year-to-Date 2015 posted a 16.8% increase over YTD 2014 in number of properties sold and we have a record number of showings and buyer appointments for these winter months. There is a balance of buyers and sellers in what seems to be as close to equilibrium as you can get in a real estate market. This is quite different from the imbalances we have seen over the past decade with a greater demand for properties than supply from 2004-2007 and a greater supply of properties than buyers from 2008-2013. Mortgage rates still remain at historic lows and underwriting standards have become more reasonable for buyers. The rates and underwriting standards are both helping borrowers to buy primary and second homes.
If you are considering placing your home on the market, please contact us today to discuss your marketing and sales plan, including staging and pricing. We are happy to help assist with any of your real estate needs, whether that may be buying, selling, or renting a property.
Luxury Market Report
Taking a look at the luxury market in 2014 versus 2013, the biggest story is the number of over $1MM properties sold. In 2014, 128 properties over $1MM were sold, compared to 90 properties in 2013, equating to a 38% increase in the luxury market. Based on current number of active luxury listings (132), we believe pricing will remain strong due to low (one year) supply.
Click here for the complete Market Analysis of $1M+ Properties
Delaware Coastal Resort Area by Zip Code
— MARKET ANALYSES FOR INDIVIDUAL RESORT AREAS —